TAQAT widens H1 2024 loss to SAR 4.3M

01/09/2024 Argaam Exclusive

View other reports

TAQAT Mineral Trading Co. widened its net loss in H1 2024 to SAR 4.3 million from SAR 2.8 million a year earlier.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	78.23	84.87	8.5 %
Gross Income	1.31	1.14	(13.0 %)
Operating Income	(2.20)	(3.61)	(63.7 %)
Net Income	(2.76)	(4.33)	(56.8 %)
Average Shares	9.75	12.19	25.0 %
EPS (Riyals)	(0.28)	(0.35)	(25.4 %)

This was due to a rise in public and administrative expenses related to its listing on the Nomu-Parallel Market, as well as higher financing costs.

However, TAQAT posted robust sales, mainly due to higher sales volume.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2023	H1 2024	Change‬
Revenues	78.23	84.87	8.5 %
Gross Income	1.31	1.14	(13.0 %)
Operating Income	(2.20)	(3.61)	(63.7 %)
Net Income	(2.76)	(4.33)	(56.8 %)
Average Shares	9.75	12.19	25.0 %
EPS (Riyals)	(0.28)	(0.35)	(25.4 %)

Item	H2 2023	H1 2024	Change‬
Revenues	78.18	84.87	8.6 %
Gross Income	(1.70)	1.14	167.1 %
Operating Income	(7.08)	(3.61)	49.0 %
Net Income	(8.86)	(4.33)	51.1 %
Average Shares	9.75	12.19	25.0 %
EPS (Riyals)	(0.91)	(0.35)	60.9 %

Total shareholders’ equity, no minority interest, stood at SAR 123.91 million as of June 30, 2024, compared to SAR 85.33 million a year ago.

Accumulated losses reached SAR 17.99 million at the end of H1 2024, accounting for 14.76% of the company’s capital.

Historical Data
Period	Revenue (SAR mln)	Net profit (SAR mln)	EPS (SAR)
H1 2022	141.86	2.55	0.26
H2 2022	98.12	(1.72)	(0.18)
H1 2023	78.23	(2.76)	(0.28)
H2 2023	78.18	(8.86)	(0.91)
H2 2024	84.87	(4.33)	(0.35)

View more financial results

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×